ABC Predicts Moderate Construction Recovery To Continue in 2013

WASHINGTON, D.C. — Associated Builders and Contractors released its 2013 economic forecast for the U.S. commercial and industrial construction industry, and it shows the continuation of a modest recovery for nonresidential construction next year. “ABC predicts nonresidential construction spending will expand 5.2 percent in 2013,” said ABC Chief Economist Anirban Basu. “Given the remarkably deep reductions in nonresidential construction spending since the onset of the downturn, one would expect more robust growth during the fourth year of broader economic recovery. “Thanks to a handful of segments experiencing more rapid economic recovery, much of the construction expansion next year will be … Read more

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AGC Reveals October Construction Numbers

Construction employment declined in 28 states from October 2011 to October 2012 even as 31 states and D.C. added jobs during the past month, according to an analysis by the Associated General Contractors of America of Labor Department data. Association officials noted that residential construction gains were being undermined by the broader business uncertainty being caused by the threat of the looming fiscal cliff. “The industry remains stuck in neutral, with close balance each month between the number of states that add or lose construction jobs,” said Ken Simonson, the association's chief economist. “Despite a strong pickup in homebuilding and … Read more

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AGC Reports on October Construction, Unemployment Numbers

Construction employers added 17,000 jobs in October while the industry’s unemployment rate fell to 11.4 percent, according to an analysis of new federal data released by the Associated General Contractors of America. Association officials noted that total construction employment levels have changed little during the past year while the declines in the industry's unemployment rate are coming as more former workers leave the industry. “Despite five consecutive months of construction employment gains, the overall employment picture is essentially unchanged from a year ago,” said Ken Simonson, the association’s chief economist. “Construction employment appears stuck in a state of mild monthly … Read more

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AGC Reports on Construction, Market Trends

Construction employment declined in 160 out of 337 metropolitan areas between September 2011 and September 2012, increased in 125 and was stagnant in 52, according to a new analysis of federal employment data released by the Associated General Contractors of America. Association officials said that construction employment in many areas continued to decline as construction activity is put on hold amid uncertainty about federal tax and investment programs and declining public sector demand. “A lot of project owners appear to be taking a time out until Washington officials can set tax rates for next year and figure out what to … Read more

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AGC Releases Latest Employment Data

Construction employment declined in 28 states from September 2011 to September 2012 even as 30 states added jobs during the past month, according to an analysis by the Associated General Contractors of America of Labor Department data. Association officials noted that the monthly gains, while welcome, were too small to offset the larger annual declines in many states. “Even though a good number of states added jobs in September, most states have a smaller construction workforce than they did a year ago,” said Ken Simonson, the association's chief economist. “Between the fiscal cliff, unset tax rates and declining public sector … Read more

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